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| <center>[[Happiness in Economics|Home]] | [[Introduction: What is Happiness?|Introduction]] | [[US vs. Sweden]] | [[Income]] | [[Employment]] | [[Inflation|Inflation]] | [[Important Economists]] | [[Conclusions|Our Conclusions]]</center> | | <center>[[Happiness in Economics|Home]] | [[Introduction to Happiness]] | [[Utility]] | [[Important Economists]] | [[Richard Layard]] | [[Layard's Lectures]] | [[Sweden]]</center> |
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| <center>[[Image:Happiness22.jpg]]</center> | | <center>[[Image:Happiness22.jpg]]</center> |
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| What is Happiness?
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| == Simply Textbook ==
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| Most economists take it as a matter of course that higher income leads to higher happiness. And why not? A higher income expands individuals' and countries' opportunity set; that is, more goods and services can be consumed. The few people not interested in more comodities need not consume them; they have the freedom to dispose of any unwanted surplus free of charge. It therefore seems obvious that income and happiness go together (provided, of course, that the two are correctly measured). Consequently, economics textbooks do not even make an effort to come up with a reason, but simply state that utility 'U' is raised by income 'Y'
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| [[Image:utility-curve.jpg]]
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| [http://www.jstor.org/view/00220515/di021483/02p0003f/0 article, what can economists learn from happiness research?]
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| | | <center> Website By: Nicky Young, Kelly McCormick, Arleigh Morgan, Duygu Orhan, and Christie Wetzel </center> |
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| [http://www.economist.com/finance/displaystory.cfm?story_id=8401269 The Economist Article 1]
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| [http://www.freerepublic.com/focus/f-news/1758215/posts The Economist Article 2]
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Latest revision as of 23:54, 6 December 2007
Home | Introduction to Happiness | Utility | Important Economists | Richard Layard | Layard's Lectures | Sweden
Website By: Nicky Young, Kelly McCormick, Arleigh Morgan, Duygu Orhan, and Christie Wetzel
